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Top-10 largest healthcare software companies

July 22, 2022

5 minutes read

The healthcare software industry is growing rapidly as the demand for electronic health records (EHR) and other health IT solutions increases. From EHR and practice management to billing and coding, a variety of software solutions are available to help healthcare organizations run more efficiently. According to a recent report by GlobeNewswire, the global healthcare software market is expected to increase by $11.76 billion in 2022-2026, reaching a compound annual growth rate (CAGR) of 7%. This article will discuss how the ten  healthcare software companies are driving the industry forward.

Challenges facing healthcare software development companies

Numerous challenges face healthcare software development companies. One of the most significant is the need to keep up with the industry’s rapidly changing landscape. New technologies, regulations, and treatments are constantly being introduced, and software development teams should keep up with these transformations to cater for life-saving medicines.

Another challenge that healthcare software development companies often encounter is the healthcare industry’s strict safety control and compliance requirements. Healthcare software often heavily relies upon sensitive patient data, and developers should take care to ensure that this data is protected from unauthorized access and can be advantageous to enhanced diagnostics accuracy.

Finally, healthcare software development companies should manage project timelines and budgets effectively. Due to the complex architecture of healthcare software, projects often require more resources than initially estimated. Developers should communicate effectively with their clients and manage expectations to deliver a successful product.

Digital transformation puts extensive pressure on healthcare providers.

According to a recent Gartner report, only 22% of healthcare companies are ready to stand these challenges.

Ten healthcare software companies on the Forefront of modern medicine

With extensive expertise in healthcare software development, these industry players revolutionize how companies deliver life-changing products. Below is the list of organizations that challenge the status quo:

  1. McKesson Corporation provides health information technology, medical supplies, and care management tools. Earning their reputation as trustworthy vendors, they are one of the largest healthcare software companies in the US.
  2. Cerner Corporation is a leading healthcare company with experience in producing electronic health records, medical practice management software, and population health management solutions. They work with healthcare organizations to continuously enhance patient outcomes and bring innovation to the industry.
  3. Epic Systems Corporation provides electronic health records, appointment scheduling, billing, and other healthcare software solutions. They are one of the largest privately-held healthcare software companies known for its innovative products.
  4. athenahealth, Inc. creates cloud-based electronic health records, practice management, and revenue cycle management solutions. They work with over 80,000 medical organizations to help them improve patient care and run their practices more efficiently.
  5. General Electric Healthcare offers a wide range of healthcare technologies, including medical imaging, patient monitoring, and information systems. Building cooperation with healthcare organizations worldwide, they refer to a leading creator of healthcare technology solutions.
  6. Philips Healthcare is committed to improving the quality of care for patients and to making healthcare more affordable and accessible. The company’s products and solutions are used in hospitals, clinics, and homes. A team of dedicated healthcare professionals also backs them.
  7. Siemens Healthineers is a leading provider of diagnostic imaging and laboratory diagnostics, medical information technology, point-of-care testing, and services to support the delivery of quality patient care. Healthineers also offer a range of services to help customers optimize the use of their medical technology products and services.
  8. International Business Machines Corporation, or IBM, is one of the top healthcare software companies in the USA, operating in over 170 countries. IBM manufactures and markets computer hardware, middleware, and software and offers to hosting and consulting services in areas ranging from mainframe computers to nanotechnology.
  9. HCA Healthcare is one of the largest healthcare systems in the world, with more than 180 hospitals and 1,800 care facilities across the United States and the United Kingdom. HCA also offers various ancillary services, such as home health, hospice, and pharmacy.
  10. Medicalchain is a decentralized platform that enables a secure, fast, and transparent exchange of medical data. The platform is based on blockchain technology, which provides a tamper-proof and distributed ledger for storing data.

These healthcare software development companies are pushing the boundaries of healthcare today. But, what trends will shape the industry in the months to come?

Trends that are shaping the industry in 2022

A few major trends are shaping the healthcare industry in 2022, with Artificial Intelligence (AI) driving the industry’s potential. The first is the continued rise of data and technology. Although it has been growing for years, it is expected to continue to grow at an even faster pace in the next few years. It will allow for more personalized and targeted care and better preventive care.

Another trend is the continued focus on value-based care. It means that providers will be paid based on the results rather than the number of services they offer. Again, this is a shift that is already underway, but it is expected to accelerate in the next few years.

Finally, there is a trend towards greater transparency in the healthcare industry. It means that patients will have more information about the cost and quality of care, and they will be able to compare different providers. It is likely to drive down costs and improve the quality of care over time.

How to choose a healthcare software development company?

When selecting a healthcare software development company, it’s essential to consider the company’s experience and expertise. The company should also have a proven track record of delivering high-quality software solutions that meet the unique needs of healthcare organizations. Get referrals from other healthcare organizations that have used the company’s services. Ask about the company’s customer service and support offerings. Last but not least, be sure to get a detailed proposal that outlines the company’s proposed solution, costs, and timeline of the project’s delivery.

Conclusion

The healthcare software industry is growing rapidly as the demand for more efficient and cost-effective healthcare solutions increases. The top ten largest healthcare software companies are expected to continue to grow over the next few years. This growth is driven by the need for better patient care, the increasing complexity of the healthcare system, and the ever-growing amount of data that needs to be managed. The leading industry players will provide innovative solutions that are bound to shape the future of healthcare.

VITech is a technology company that delivers cutting-edge solutions in data-intensive industries. If you want to discover the potential of custom healthcare software development, contact us.

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